Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Fethullah Gülen’s initiatives for peace to be discussed in Rotterdam

BASRI DOĞAN A university in the Netherlands will today launch a two-day international conference on peaceful coexistence in modern times. Erasmus University in Rotterdam will host an international conference titled “Peaceful Coexistence: Fethullah Gülen’s initiatives for peace in the contemporary world” on Nov. 22-23. Gülen is an Islamic scholar, peace activist and the mentor of […]

Parallel state hunt makes McCarthyism look like child’s play

For the last year not a single day has passed without hearing these infamous words: parallel state. These were present in almost every speech made by President Recep Tayyip Erdoğan. They have been in the headlines everyday in every single newspaper close to the government.

Decision to build road on school grounds nonsensical, say parents

Following the İstanbul Metropolitan Municipality and Güngören Municipality’s decision to build a road within the courtyard of a private school affiliated with the Hizmet movement this week, the school management made a statement on Friday, saying that the parents of students at the school find the decision nonsensical.

Don’t lose the plot

Turkey’s attempted coup shocked an already tense society. At least 240 people were killed, and the country narrowly averted a disastrous military takeover. The plot was led in part by followers of the Gulen movement, a secretive Muslim sect that runs a global network of schools, charities and businesses and has infiltrated the Turkish state. It is only natural that Turks should be determined to identify and punish the conspirators.

Ruling AKP officials downplay tension with Gülen movement

The tension between the government and Gülen’s movement (also known as the “Community,” “Cemaat” in Turkish, or “Service,” “Hizmet” in English) has escalated after Prime Minister Recep Tayyip Erdoğan announced plans to abolish private examination prep schools, many of which were financed and run by Gülen’s followers. The tension has recently peaked, with Erdoğan describing the group’s objection to his government’s plans as “a smear campaign.”

The latest step by AKP-Gov’t witch-hunt against Hizmet Movement

In Turkey, the increasing pressure over the freedom of press, property rights and authoritarianism have reached an alarming level. A recent report on the rule of law and respect for human rights inTurkey declared that Turkish government had been perpetrating systematic human rights violations since December 2013.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

A Rabbi’s meeting with Hocaefendi Fethullah Gülen

Great interest shown in Turkish school in Egypt

Newly-released journo offers insider view at victims of Turkey Purge

Fethullah Gulen’s Message of Condolences for Senator John McCain

With Husband Already In Jail, Woman Along With Two Children Detained In Post-Coup Witch Hunt

Sultan of Zing: Erdogan’s power trip makes African pit stop

HRW report: No evidence to accuse Gülen movement of terrorism

Copyright 2026 Hizmet News